Strive expanded its Bitcoin treasury by more than 11% last week after investors exercised $208 million in warrants, according to a Tuesday filing with the US Securities and Exchange Commission and comments from company chairman and CEO Matt Cole.
The publicly traded Bitcoin treasury company bought 3,311 BTC during the week ended Oct. 9 at an average price of about $84,500 per coin. Its total holdings consequently reached 32,773 BTC, making Strive the fifth-largest publicly traded corporate Bitcoin holder, according to industry data cited in the report.
The purchases were made as the company continued using equity financing to fund its cryptocurrency treasury. Importantly for existing shareholders, Strive’s Bitcoin reserves grew faster than its share base during the period: holdings increased 11.2%, while its effective common share count rose 9.4%. That means the company’s Bitcoin holdings per share increased despite the issuance of additional equity.
Cole said on X that investors had exercised $208 million worth of warrants, leaving approximately 15.3 million warrants outstanding before their Tuesday expiration. A warrant gives its holder the right to buy shares at specified terms, potentially providing a company with capital when exercised while also increasing the number of shares in circulation.
Strive also amended its governing documents to establish a binding minimum issuance price of $100 for its SATA preferred shares. The change limits the company’s ability to issue those shares below that level. SATA shares were trading at $99.40 at the time cited in the report.
A corporate Bitcoin treasury strategy
Strive’s approach involves raising capital through common and preferred shares and directing that capital toward Bitcoin purchases. This model gives investors exposure to the company’s equity or preferred securities while allowing Strive to build a cryptocurrency reserve on its balance sheet.
The latest transaction drew public support from Michael Saylor, whose company, Strategy, is described as a pioneer of the corporate Bitcoin treasury model. Saylor said on X that Strive was converting demand for its common equity, ASST, and preferred security, SATA, into demand for Bitcoin.
Strategy remains the largest publicly traded corporate Bitcoin holder. It added 250 BTC during the same week, bringing its total holdings to 848,250 BTC. The comparison highlights the difference in scale between the two companies, even as both use capital markets to expand their Bitcoin reserves.
Bitcoin market picture
Moneyiar market data at 20:34 on Oct. 13, 2026, showed Bitcoin at $83,105.99, up 0.19% over 24 hours but down 2.94% over seven days. The price was close to the roughly $83,300 level cited for Bitcoin when Strive’s filing was discussed.
Strive’s ASST shares were little changed at $27.52 at the time cited in the report. The company’s Bitcoin purchases therefore occurred amid a market in which the cryptocurrency was trading below Strive’s reported average acquisition price for the latest batch.
